Bajaj Finance to Raise ₹10,000 Crore via QIP and Warrant Issue

Bajaj Finance announced on Thursday its plan to raise up to ₹10,000 crore through the issuance of shares to qualified institutional investors and warrants to its largest shareholder, Bajaj Finserv. This fundraising initiative could increase Bajaj Finserv’s stake in the company from 52.45 percent to 52.57 percent, with the issue price to be determined later.

Details of the Fundraising Plan

Bajaj Finance aims to raise up to ₹8,800 crore through a qualified institutional placement (QIP) of shares. Additionally, the company plans to issue warrants convertible into shares worth ₹1,200 crore to Bajaj Finserv.

Shareholder Approval and Strategic Growth

In its exchange filing, Bajaj Finance stated that it will seek shareholder approval for the proposed fundraising by convening an Extraordinary General Meeting. The company’s strategic move aims to bolster its financial position and support its growth initiatives.

Performance Highlights

Bajaj Finance reported a 26 percent growth in new loans booked during the second quarter, and its assets under management increased by approximately 33 percent to ₹2.90 lakh crore as of the end of September. This robust performance underscores the company’s strong market position and growth trajectory.

Competitive Landscape

Rival companies such as Tata Capital and Aditya Birla Capital are also actively raising fresh funds, indicating a competitive landscape in the non-banking financial company (NBFC) sector.

By raising substantial capital, Bajaj Finance seeks to further strengthen its market presence and continue its impressive growth momentum.